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With a traditional IRA account (married filing jointly) can I contribute 5.5k x2 if my wife does not work?
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With a traditional IRA account (married filing jointly) can I contribute 5.5k x2 if my wife does not work?
Yes, that is called making a spousal IRA contribution...so if you have enough income then you can do that ... talk to the IRA administrator about that situation.
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With a traditional IRA account (married filing jointly) can I contribute 5.5k x2 if my wife does not work?
To be precise, you cannot contribute $11,000 to one IRA account. Provided you have sufficient compensation to support both contributions, you can contribute $5,500 to your IRA and, using your compensation, your wife can contribute $5,500 to her IRA.
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